College students, parents feel tariff effects on move-in day across Triangle
RALEIGH, N.C. (WTVD) -- Move-in day preparations for families across the Triangle have been a bit of a challenge this year as tariffs have affected prices on must-have items.
Economists at the UNC Kenan Institute of Private Enterprise said tariffs are affecting the prices of goods on a number of items, including pencils, laptops, and even bedding.
Liz Stephenson moved her daughter into NC State on Friday. She said her daughter's laptop wasn't the only item that came at a higher cost.
Students and their parents are definitely seeing higher prices.- Gerald Cohen, UNC Kenan Institute Chief Economist
"The laptop was a lot. I would say just all the little things," she said. "You need soap and you need shampoo and you need this and you need that. The cost of everything is just kind of going up."
UNC Kenan Institute Chief Economist Gerald Cohen said not to expect any relief anytime soon.
"Students and their parents are definitely seeing higher prices," he said.
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Cohen said overall, prices are up from the year before. It's something he said generally doesn't happen every year, and said this kind of volatility is something not seen since the COVID-19 pandemic.
"All the research suggests that tariff prices are passed through a decent amount to the American consumer," said Cohen.
Robin Gallagher moved her son into NC State as well on Friday. She said they planned for months to have the most savings.
"Buy ahead of time. Everything at the last minute really goes up high," she said. "I buy a lot of the stuff in advance, just kind of as I went in, as I saw sales."
There are some ways to protect your wallet from these price increases:
- Plan early for what is needed.
- It may be late now, but get more expensive items at least six months before move-in. Usually, costs go up closer to the start of the semester.
- Also, look for used, floor model, or second-hand electronics to save some extra cash.
Economists also don't recommend purchasing the newest electronics. They advise buying a model or two below the newest tech can provide some relief.
